It is critical for project managers to conduct project post-evaluation meetings with their teams. The agenda of such a meeting is focused on factors such as the results, performance and expenditure information available after completion of the project. Prior to conducting a project post-evaluation meeting, project managers must collect relevant project data and develop a concrete meeting agenda. This will allow them to see clearly, the issues that need to be addressed and the ways [...]
Keeping a track of KPIs or Key Performance Indicators is absolutely critical to project management and success. In the absence of a system that tracks KPIs, it is nearly impossible to assess the progress of a project towards the predetermined goals.
Project Portfolio Management facilitates measurement of the impact that project management has on cost, procurement, product quality and human resources at the level of the entire organization.
Do your projects run late from original schedule? Sounds pretty familiar? Tamro has a large project portfolio and personnel is encouraged to take part into development activities. Roughly two years ago started the next phase in Portfolio management. All was renewed: processes, organization and tools. From the beginning the aim was to move towards a proactive Portfolio Management. Tamro chose Thinking Portfolio’s platform for a technical solution. Software has provided benefits we expected and we [...]
We’ve published the True Customer Case Stories of our popular Project Portfolio PPM tool. Download from here!
There is more than a possibility that you use terms like program management and project portfolio management in your daily language. Both of these words are common everyday words and have simple meanings. However, in case of organizational management, a majority of people are unaware when to use such terms. These words hold different meanings for different companies. Even within a company, different stakeholders use these terms differently. It is apparent that confusion abounds when [...]
We’ve published the second edition of our hugely popular Project Portfolio Management Playbook. The new edition is titled Thinking Portfolio Insights Cookbook – an e-book with over ninety how-to articles on how to succeed in managing your project portfolio. […]
Savon Voima, otherwise known as the Savonian energy group, concentrates on electricity sales and grid services, electricity and district heating generation, solar power solutions and versatile portfolio management services for the energy sector. Thinking Portfolio leads the approach for objective development Managing Director of Savon Voima, Arto Sutinen, together with Development Manager and Chief Information Officer Markku Rissanen, state that development tasks have been enhanced in their organisation and are increasingly objective-focused, whilst management processes have [...]
Kymenlaakso University of Applied Sciences (Kyamk) and Mikkeli University of Applied Sciences (Mamk) merged in early 2017 to become the South-East Finland University of Applied Sciences (Xamk). Research and development and innovation activities, known as R&D&I, are the core activities of universities of applied sciences. Indeed, such universities produce new studies and methods, as well as developing products and services that correspond with its local requirements. (www.xamk.fi) Thinking Portfolio is a superior tool At the [...]
Finnair is an airline network specialised in flying between Europe and Asia along the shorter northern route. Finnair uses Thinking Portfolio’s Project Portfolio, which currently manages its IT projects. There are plans for Thinking Portfolio to become the go-to project management application for all types of projects including procurement, commercial investigation and projects to open new flight routes. The intention of the ongoing Roadshow is to communicate information about the potential of the application for future [...]
All project managers and teams go through challenges in the execution of a project. Here are six common blind spots in project portfolio management that you can avoid: 1. Lack of clarity in defining success measures A common blind spot in the project portfolio management is vaguely-defined measures of success. By communicating the top goals, a project manager brings to light the focus areas for the team/organization/individual. But in the absence of clearly defined expectations, employees [...]
The focus of ‘agile’ project management is consistent improvements, team contribution, greater flexibility, and delivery of necessary quality products. The main methodologies in agile project management include scrum, lean, and extreme programming. Understanding the agile model for project management The waterfall methodology for project management was traditionally used, but it had certain disadvantages. These included extreme dependence on original requirements, limited or no scope of change during the project, possibility of product testing only at [...]
The accurate understanding and anticipation of emerging market needs and lucrative opportunities is the basis for successful New Product Development (NPD) in project portfolio. The project managers and senior leadership in an organization will consistently face challenges with regards to allocation of institutional resources for launching the right products each time. It is critical not to make a mistake when planning a product launch as it could have a devastating impact on the finances and [...]
An organization uses multiple resources for executing projects. These typically include people, equipment, information, materials, time, and money. Most organizations have a limited amount of resources, hence, resource allocation planning is necessary for the effective management and utilization of these scarce resources. Project resource management involves procuring and deploying internal as well as external resources which are needed for delivering a project, portfolio or program. It focuses on priority usage of resources, monitoring resource utilization [...]
Selecting the right key performance indicators (KPIs) for a project is critical as you will need these KPIs to accurately gauge the project's success and performance over time. There is no universal remedy for choosing the correct KPIs, but there quite a few things that you will always need to consider. KPIs are essential to see if your project is meeting the set goals. Relate them directly to your business objectives What is the goal [...]